HPS Acquires CR2, an Irish digital banking and payments company
HPS has acquired CR2, a well-established Irish digital banking and payments software company.
With offices in Dublin, Dubai, Jordan, India, and Australia, CR2’s flagship platform, BankWorld, is deployed at over 90 banks in more than 50 countries, offering a comprehensive suite of digital banking, digital wallet, and payment functionalities. For the 12 months ending June 2023, CR2 generated revenues of €23.8 million.
CR2 is expected to significantly enhance HPS’s financial performance by creating new revenue opportunities in complementary markets. This acquisition strengthens HPS’s presence in French-speaking African markets while leveraging CR2’s strong position in English-speaking Africa and Australia.
The transaction is anticipated to be EPS accretive in the first year post-completion, due to expected synergies.
Fintan Byrne, CEO of CR2, commented: “This transaction recognizes the achievements of the CR2 team and the growth potential of our business. It aligns with our ambition for continued international expansion, offering even more opportunities for investment and innovation.”
The terms of the acquisition have not been disclosed.